MDKA – Higher production boosts performance

MDKA – Higher production boosts performance Merdeka Copper Gold (MDKA) expects to experience better performance due to higher copper production this year. The closure of one of Panama's largest copper mines and the low stock of copper on the Shanhai stock exchange are also positive sentiments for MDKA. In addition, there are indications of an increase in copper reserves in the Seven Hills project, Banyuwangi to 755 mn tons. MDKA also targets gold production of 100-120k troy ounces with AISC of USD1,350-1,500 per troy ounce. The target is down from last year's target of 129k ounces troy of gold. MDKA is optimistic that there are still opportunities in the gold market due to high demand if geopolitical tensions rise. Note that, MDKA posted an increase in revenue of 120% yoy, but recorded a decrease in net profit of USD3.1 mn (-87.80% yoy) in 4Q23. (Source : Kontan)